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The GBP/JPY currency pair has begun to exhibit negative momentum, moving away from the 195.60 barrier and increasing the likelihood of activating the previously suggested correctional bearish trend. The next critical level to watch is 194.55.
To confirm the bearish trend, it is essential for the pair to gather additional negative momentum to break below the 193.90 obstacle, which serves as a key support level. A successful breach would pave the way for further declines, targeting levels around 193.15 and 192.50.
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The expected trading range for today is between 193.90 (resistance) and 195.10 (support).
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Trend Forecast: Bearish
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